Euro slides to 17-month low amid political instability and inflation

The euro has touched its lowest level in over 17 months against the dollar, as political instability and mounting inflation concerns weigh on European markets. Investors have shifted preference toward the dollar, which remains strong across multiple currency pairs.

Meanwhile, the Australian dollar has declined to a two-month low following disappointing local inflation data. European economies face mounting headwinds from rising oil prices and escalating inflation, creating significant economic challenges for the region.